The EUR/USD pair remains broadly offered this Tuesday on the back of attempts of the US dollar to regain control over the market. Seems that US bulls have finally found some support across the market after the disappointing US unemployment rate, which was released on Friday. However, further actions of the pair look limited, as investors refrain from placing aggressive bets ahead of the latest US consumer inflation figures, which will likely trigger volatile trades across the market, as they will be able to bring some hints on what to expect from the Fed this year. Also today, investors will pay attention secondary EU data reports, however, expected that the market won’t show any reaction on the EU data amid broad cautiousness ahead of the key event of this Tuesday.
The GBP/USD pair lost its positive traction in Asia, having faced resistance at the level of 1.3900. The main reason for pair’s reversal can be called increasing cautiousness in wake of busy data calendar. First, today the UK budget report hearing will take place, which will include updated economic growth and inflation forecasts for the kingdom, and will probably bring significant impact on the pound. Moreover, today investors are awaiting for important US inflation data, which expectedly will trigger additional volatile moves of the pair, as it will be able to indicate how aggressive policy the Fed will implement this year. Another negative factor for the pair can be called ongoing speculations regarding possible “hard” Brexit, which is limiting potential gains of the pound lately. Above-mentioned events will be the key driving factors for the pair and will determine its further direction.
The AUD/USD pair stalled its recent upside trend amid lack of any market-moving events on Monday. The pair started this week on a positive note, following Sunday’s reports, saying that Australia won’t be affected by the US metal tariffs. However, the pair has lost its bullish mood and stalled its upside rally amid lack of catalysts. Adding to this, widespread cautiousness ahead of important US CPI report and red numbers from the Australian economy exert additional pressure on the Aussie today, thus limiting pair’s further growth. In the day ahead, all markets’ attention will remain focused on the US inflation report, which will be able to set up pair’s further direction, but until then market sentiment will help the pair to form its near-term trajectory.
The USD/CAD pair keeps its positive tone this week, having bounced off 2-week lows, marked yesterday near the level of 1.2800. Seems that the US dollar have found support and now is trying to correct after mixed data from the US labor market, witnessed on Friday. Moreover, subdued dynamics of oil prices are negatively affecting positions of the commodity-linked Loonie, thus additionally contributing to the recovery of the pair. It is expected that in the next few hours the pair won’t surprise us with any sharp moves, as we are heading towards the US inflation data, which likely will indicate how aggressive the next steps of the Fed will be regarding its monetary policy. Besides the US consumer price index, investors will also pay attention to the speech of BoC Governor S.Poloz, which will also be able to bring some trading opportunities during the NA session.
Major events of the day:
UK Spring Forecast Statement – 13.30 (GMT +3)
US Core CPI – 15.30 (GMT +3)
BoC Governor S.Poloz’s Speech – 17.15 (GMT +3)
Support and resistance levels for the major currency pairs:
EURUSD S. 1.2268 R. 1.2378
USDJPY S. 105.89 R. 107.23
GBPUSD S. 1.3810 R. 1.3964
USDCHF S. 0.9429 R. 0.9535
AUDUSD S. 0.7831 R. 0.7899
NZDUSD S. 0.7246 R. 0.7346
USDCAD S. 1.2787 R. 1.2873
Follow us on Facebook to stay up-to-date with important events on Forex market.
The best conditions for making a start on STP only at Forex.ee! Register an account now and feel the difference from the first trade!
Your European ECN-broker,
One Click Trading is a very important and useful tool developed on the basis of Level2 application. One Click Trading makes it very easy to monitor the markets and react to the market changes on time. One click is enough to catch the best price and make a beneficial trade.
To install OCTL2P you should download setup file to your computer and run it to start the installation. Click Next in the installation dialog box. Before installing OCTL2P we suggest you close all running applications including MT4 terminals.
Read the license agreement, select the check box I accept the agreement and click Next to proceed.
Indicate directory where you previously installed MetaTrader 4. To start the installation click Install.
When the installation process is finished, the Next button will be activated.
Click Finish to close the installation dialog box. Activate Launch MT terminal option if you want MT4 launched after you click Finish.
Before you activate OCTL2P, please, check the settings: launch the MT4 trading platform, from main menu choose Tools → Options, in the opened window select the Expert Advisors tab and switch on the Allow automated trading and Allow DLL imports options and click OK.
To activate the Expert Advisor in the Navigator window, click Expert Advisors. Installed EA should be seen in the list. Double-click on OneClickTradingLevel2 or simply drag and drop it onto the chart. Click OK.
If the EA is activated successfully, a smiley will be seen in the top right corner of the chart.
Metatrader 4 is a modern and easy-to-use trading platform for online trading. It ensures round-the-clock access to financial markets and market information as well as quick order execution. With Metatrader 4 traders may take advantage of using Expert Advisors, Indicators and develop their own trading strategies.
To install Trading platform ForexEE MT4 you should download setup file to your computer and run it to start the installation. Click Next in the installation dialog box.
Read the license agreement, select the check box Yes, I agree with all terms of this license agreement and click Next to proceed.
Please indicate installation directory for MetaTrader4 and choose name for Start Menu folder Start → All Programs. We recommend using the default installation settings. Also select a relative check box if you want to Create a desktop shortcut, Оpen MQL5.community website or Launch program after successful installation. Click Next.
Now the program is downloading all necessary files from our server and installing them on your PC. Click Finish when installation is complete. Congratulations! MT4 has been successfully installed on your computer.